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Eastern Co logs EGP 3.9bn profit in nine months

Eastern Co logs EGP 3.9bn profit in nine months
Gross sales grew to EGP 48.5 billion in the July-March period of FY20/21
Eastern Co
EAST
1.60% 12.09 0.19

Cairo – Mubasher: Eastern Co recorded net profits of EGP 3.89 billion in the first nine months of fiscal year (FY) 2020/2021, up by 24% year-on-year (YoY) from EGP 3.13 billion, the unaudited financial results showed.

The tobacco manufacturer’s gross sales grew to EGP 48.5 billion in the July-March period of FY20/21, compared to EGP 42.73 billion in the corresponding period a year earlier, according to a bourse disclosure on Tuesday.

During the third quarter (Q3) of FY20/21, the company’s net profits surged by 48% YoY to EGP 1.35 billion, while the gross sales rose by 14% to EGP 16 billion and the net revenues increased by 8% to EGP 3.98 billion.

During the first half (H1) of FY20/21, the company reported net profits of EGP 2.54 billion.

Revenues increased to EGP 8.16 billion in the July-December period of 2020 from EGP 7.69 billion in the corresponding period a year earlier.